In the week ahead, uncertainty over the direction of Federal Reserve policy and the decision over Chairman Ben Bernanke’s eventual successor look likely to weigh on the dollar. Investors will also be closely watching the outcome of Sunday’s general elections in Germany.
Monday, September 23
Markets in Japan are to remain closed for a national holiday. China is to release the preliminary reading of its HSBC manufacturing index, a leading economic indicator. The euro zone is to release preliminary data on manufacturing and service sector activity. Germany and France are to produce individual reports. European Central Bank President is to testify about the economy before the Committee on Economic and Monetary Affairs, in Brussels. Swiss National Bank Chairman Thomas Jordan is to speak at an event in Zurich.
Tuesday, September 24
The Ifo Institute is to release a closely watched report on German business climate, a leading economic indicator.The U.K. is to release industry data on mortgage approvals, an important indicator of demand in the housing market. Canada is to produce official data on retail sales, the government measure of consumer spending, which accounts for the majority of overall economic activity. The U.S. is to release private sector data on house price inflation, as well as a closely watched report on consumer confidence.
Wednesday, September 25
New Zealand is to publish official data on the trade balance, the difference in value between imports and exports. The Reserve Bank of Australia is to publish its bi-annual financial stability review. The euro zone is to release the results of the Gfk index of consumer climate, an important economic indicator. The U.K. is to produce private sector data on retail sales. The U.S. is to release data on durable goods orders, a leading indicator of production, in addition to a report on new home sales.
Thursday, September 26
New Zealand is to release a report on business confidence, a leading economic indicator. The U.K. is to produce a report on the current account, as well as revised data on second quarter economic growth. The SNB is to publish its quarterly bulletin, which looks at monetary policy. The U.S. is to release the weekly report on initial jobless claims, as well as final data on second quarter growth and private sector data on pending home sales.
Friday, September 27
Japan is to release data on consumer price inflation, which accounts for the majority of overall inflation. In the euro zone, Germany is to produce preliminary data on consumer inflation, while France is to release a report on consumer spending. ECB President Mario Draghi is to speak at an event in Milan. Switzerland is to publish the KOF economic barometer, which is designed to predict the future direction of the economy. The U.S. is to round up the week with revised data on consumer sentiment and inflation expectations from the University of Michigan, as well as data on personal income and expenditure.